HUMANA INC — Director's Dealing 2011

May 19, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: HUMANA INC (HUM)
CIK: 0000049071
Period of Report: 2011-05-15

Reporting Person: REYNOLDS W ANN (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-05-15	Humana Common	M	401	$78.635	Acquired	39727	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-05-15	Stock Unit	$	M	401	Disposed		Humana Common (401)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Humana Common	87	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Options	$11.55	2012-01-02	Humana Common (5000)	5000	Direct
Options	$10.19	2013-01-02	Humana Common (5000)	5000	Direct
Options	$23.05	2014-01-02	Humana Common (2500)	2500	Direct

Footnotes

F1: Share disbursement of annual Director's fees, which were deferred at the election of the reporting person until her resignation from the Board. The remaining 7,355 shares will be disbursed annually through May 15, 2014.

F2: Shares held by reporting person's spouse.

F3: Right to buy pursuant to Humana Inc.'s 1996 Incentive Stock Option Plan.

F4: Right to buy pursuant to Humana Inc.'s 2003 Stock Incentive Plan.

F5: Annual Director's fee payable in stock units which have been deferred at the election of the reporting person until her resignation of services as a director at which time the stock units will be payable in Humana Inc. common stock on a 1-for-1 basis, exempt pursuant to Rule 16(b)-3(d)(1).